Hey all,
The ability to read price action, or at least get a hint from it can be an invaluable edge in trading. It is something however that can be hard to devote any time to, and so I thought I would try this little exercise for hits and giggles.
I have seen this done in other forums and it is a great little learning exercise, as well as a great way to see how different people trade. I will post a chart, with dates and price removed (as to make it harder for people to find that point in history) and I'll ask "what will happen next?". I will not include any indicators, just price itself, the challenge is to try to deduce what will happen from price itself, trend lines, support and resistance etc.
For those that know how, draw in your trend lines or support resistance etc or anything else for that matter in paint or whatever graphic program you use, I know it is a little clumsy but it might be a nice learning exercise for all. Otherwise if you do not know how to do that, just write a description with what you see.
Ok next post contains today's chart, I will post the full chart on Wednesday.
Cheers
Akuma99
The ability to read price action, or at least get a hint from it can be an invaluable edge in trading. It is something however that can be hard to devote any time to, and so I thought I would try this little exercise for hits and giggles.
I have seen this done in other forums and it is a great little learning exercise, as well as a great way to see how different people trade. I will post a chart, with dates and price removed (as to make it harder for people to find that point in history) and I'll ask "what will happen next?". I will not include any indicators, just price itself, the challenge is to try to deduce what will happen from price itself, trend lines, support and resistance etc.
For those that know how, draw in your trend lines or support resistance etc or anything else for that matter in paint or whatever graphic program you use, I know it is a little clumsy but it might be a nice learning exercise for all. Otherwise if you do not know how to do that, just write a description with what you see.
Ok next post contains today's chart, I will post the full chart on Wednesday.
Cheers
Akuma99
You can quit and they won't care, but you will always know.